In its 10 years' existence, EBS had never made a more
significant announcement. At the end of last month, the bank-backed
forex trading network, whose interdealer platform transformed price
transparency in its market, said it would begin offering
dealer-to-client forex trading on Bloomberg.
The agreed partnership package combines trading with market data
and puts EBS capabilities on Bloomberg's 175,000 terminals, giving
it an enviable new distribution network. Or, as Cliff Lewis, CEO of
forex trading network Currenex, says: "EBS is the 800lb gorilla in
our space... The gorilla has woken up."
The move is rather counter-intuitive. If you listen to forex
bankers, technology firms, and trading portals, the next wave of
consolidation among multibank distribution networks is just around
the corner. And then along comes a major new player.
EBS Trader, the trading network that will be launched on
Bloomberg, is in itself not new. It has been a standalone...
